Tags: Autozone | Profit | Earnings | Auto Parts

AutoZone Profit Rises but Misses Street's View

Tuesday, 21 May 2013 08:22 AM

AutoZone's third-quarter net income rose 7 percent, as acquisition costs fell and sales improved.

The auto parts retailer earned $265.6 million, or $7.27 per share, for the period ended May 4. That's up from $248.6 million, or $6.28 per share, a year earlier.

Analysts polled by FactSet, on average, expected higher earnings of $10.40 per share. Revenue for the Memphis, Tenn., company increased 5 percent to $2.21 billion from $2.11 billion.

Both edged out Wall Street expectations.

Revenue at stores open at least a year dipped 0.1 percent. Analysts pay close attention to comparable-store revenue as a measure of a retailer's health because the volatility of stores recently opened or closed are stripped out.

AutoZone Inc. had 5,109 stores worldwide at the quarter's end.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Companies
AutoZone's third-quarter net income rose 7 percent, as acquisition costs fell and sales improved.
Autozone,Profit,Earnings,Auto Parts
124
2013-22-21
Tuesday, 21 May 2013 08:22 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved